NEW YORK, December 13, 2017 /PRNewswire/ --
According to a reportby New Frontier Data, the legal cannabis market was worth $6.6 billion in 2016 and is forecast to grow to $24.1 billion by 2025 with a compound annual growth rate of 16 percent. Chronic pain
State budget deficits may be solved as cannabis revenue could raise a substantial amount and provide state leaders with increased capacity in their budgets. New Frontier Data CEO Giadha Aguirre De Carcer said, "During this tough economy states are looking for any way to close their budget shortfalls and it appears that cannabis may hold an answer for them. New Frontier Data looked at the potential revenues that could be generated from state cannabis taxes and found that in this year alone, states could raise nearly $750 million and triple that number by 2020. These revenues will have a meaningful impact on state programs and provide governors with much needed breathing room in their budgets."
Sugarmade, Inc. (OTC: SGMD) announced breaking news yesterday that, "an important step toward the introduction of the patented BudLife cannabis storage system. The Company has entered live prototype testing of cannabis flowers in various versions of BudLife, the first container system that maintains the integrity of cannabis flowers for up to six months.
"This week we effectively put these cannabis samples to sleep in modified, optimal atmospheres within the containers. We will closely monitor the samples over the coming days in order to determine the effects. Thus far, results in the laboratory have been impressive and we aim to replicate such results within our live testing environment. The samples are being stored in conditions similar to how we believe consumers would also store cannabis. With the California market opening to recreational purchases in only one month, we believe this final prototype testing is optimally timed," commented Jimmy Chan, CEO of Sugarmade.
After many iterations and modifications to the patented technologies, Plantation, Corp., which is Sugarmade's manufacturing partner, has come up with what it believes is the optimum storage atmosphere for cannabis flowers. BudLife products will preserve the important properties of cannabis THC levels, terpene quality, and trichome structure, along with aroma and feel.
"We are honored to be the exclusive distributor for BudLife products for the single largest cannabis market in the world, the U.S. states of California, Oregon and Washington," continued, Mr. Chan. "We believe this breakthrough is really important. With the growing glut of cannabis flowers in the marketplace, storage will be more critical than ever. As the California market opens up, we expect to see even more cannabis hit the market. We plan to help the cannabis industry deal with this supply issue via high quality preservation and storage products. We look forward to releasing pricing and final versions, and to begin to take pre-orders for these patented and trade secret protected products. We urge all of our investors to visit http://www.budlife.net to review this groundbreaking cannabis storage technology."
The quality of cannabis has risen dramatically over the past few years and it's clear that premium product keeps consumers happy and allows growers and distributors to command premium prices. But, the quality of cannabis degrades quickly, which places the significant investments made in high quality product production at risk. BudLife products are design to significantly reduce this risk and to allow growers and distributors to store and control the release of their higher quality products at optimal times in order to maximize profits, thus helping users of BudLife to shape the cannabis supply and demand curve."
Terra Tech Corp. (OTCQX: TRTC) is a vertically integrated cannabis-focused agriculture company. On November 9, 2017, the company announced its third quarter 2017 financial results for the period ended September 30, 2017. Total revenues generated for the third quarter ended September 30, 2017 were $10.1 million, compared to $7.0 million in the same period in 2016. The increase was driven by sales in the cannabis segment which increased 81.8%, due to higher sales from the Company's four Nevada-based Blüm Dispensaries. It was partially offset by lower sales from Edible Garden due to the discontinuation of sales of its low-margin floral products. United Cannabis Corporation (OTCQB: CNAB) is a biotechnology company dedicated to the development of phyto-therapeutic based products supported by patented technologies for the pharmaceutical, medical, and industrial markets. On October 12, 2017, the company announced that Jamaica's Ministry of Health has registered its Prana CBD-Infused Water as a medicinal cannabis product. The Prana Water will be manufactured and distributed by the Company's Jamaican subsidiary, Cannabinoid Research & Development Limited ("CRD"). CRD has already begun preliminary work to initiate production of other United Cannabis products in Jamaica, including its Prana P5 Hemp Bio Nutrient Capsules, Aromatherapy Roll-On, and Sublingual Drops. OWC Pharmaceutical Research Corp. (OTCQB: OWCP) is engaged in the business, through its wholly-owned Israeli subsidiary, One World Cannabis Ltd., of conducting medical research and clinical trials, in full compliance with all international regulatory protocols, for the development of cannabis-based products and treatments specifically designed for multiple myeloma, psoriasis, fibromyalgia, PTSD, migraines, and of a unique delivery system. Earlier this year, the company announced that its subsidiary, One World Cannabis Ltd., has filed a patent application with the European Union Patent and Trademark Office for its active cannabinoid-based psoriasis topical cream. This action by OWC is a key step in the Company's continuing program to fully protect its intellectual property ("IP"). OWC's strategy in seeking to fully protect its IP, including the filing of this European patent application will enable the Company to accelerate its ongoing discussions and negotiations regarding scientific, medical and commercial collaboration. MassRoots, Inc. (OTCQB: MSRT) is one of the leading technology platforms for the regulated cannabis industry. Recently, the company announced the early-stage testing of a new concierge service for cannabis enthusiasts. The service will be available in early December 2017 and marks a new partnership with Diem Cannabis, an Oregon-based dispensary and delivery service. Early tests will be available throughout Portland and nearby Salem, providing delivery customers with a virtual budtender to help them choose the right order for their specific needs. MassRoots' new concierge service will allow consumers to speak by phone or text chat with a virtual budtender, ask questions, get recommendations, and verify all information is correct before MassRoots hands the order off to Diem, which will fulfill and deliver the final order to the consumer, accepting payment on delivery. Diem currently accepts cash, debit, and eCheck.
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